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BZ supports acquisition of 13 Tile Giant branches

16 Feb 2023

Specialist asset-based lender, BZ has supported its existing client, CTD Tiles’ acquisition of 13 branches of Tile Giant. BZ acted as lead funder in conjunction with Leumi ABL, responding quickly to support the acquisition out of administration and completing the transaction in under a week.

The transaction includes the transfer of all employees at these stores, resulting in continued employment for 48 members of staff. CTD Tiles is a portfolio company of Aurelius, a pan-European investment group focused on creating value through the operational improvement of companies with development potential.

This deal will provide additional scale to CTD’s nationwide network of branches to bolster its commitment to being one of the UK’s leading omni-channel specialist tile distributors.

Following the acquisition, the business will operate across 98 branches, including 4 trading distribution hubs. The company predominantly sells tiles, tile adhesives and grout as well as associated tools and consumables for the preparation, laying, cutting and drilling of tiles. CTD’s leading B2B market position is supported by strong brand awareness of its Gemini product line and its robust trading performance.

Kevin Yates, Managing Director – Risk at BZ, commented: “We are delighted to have supported Aurelius and CTD Tiles on this transaction, acting rapidly to help save vital jobs and providing a platform for future growth. CTD is going from strength to strength, continuing to invest in people, infrastructure and the expansion of its national footprint. We look forward to working with them to fund further growth.